Hargreaves Lansdown to launch new funds as profits tumble 26%

Performance down across most metrics

James Baxter-Derrington
clock • 1 min read

Hargreaves Lansdown is set to launch a new range of in-house funds in a bid to improve the competitiveness of its products while its profits tumbled over the first half of the year.

According to the platform's H1 2022 results, profits were down 26% year-on-year, falling to £269.2m over the past six months. The company recorded negative change across most performance metrics compared with the same period last year, with net new business down 37%, total assets under administration 9% smaller at £123.8bn and revenue shrinking by 8%. This also led to a reduction in diluted earnings per share, down 27% to 45.6 pence. HL confirmed the total ordinary dividend would increase 3% to 39.7 pence per share, although the total dividend is down on 2021's figure owing to a lack ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your Business

Fidelius takes stake in HNW specialist

Fidelius takes stake in HNW specialist

Follows February rebrand

Jen Frost
clock 02 May 2025 • 2 min read
Are advice business data silos a necessary evil?

Are advice business data silos a necessary evil?

‘Like them or not, data silos are here to stay’

Robin Bevan
clock 29 April 2025 • 4 min read
Editor's view: Plenty to celebrate about the next generation of advisers

Editor's view: Plenty to celebrate about the next generation of advisers

The editor's Friday Night Takeaway from 25 April

Jen Frost
clock 25 April 2025 • 4 min read